Fiscal Responsibility
Fiscal Responsibility
City role: significant
 Two measures: the price of Redmond city government, including all taxes and fees, as a percentage of the aggregate personal income of Redmond residents; and, the City's bond rating from major rating agencies.

Price of government. The price of government is the sum of all taxes, fees, and charges collected by all sectors of government divided by the aggregate personal income of that government's constituents. The calculation is used to define the band within which residents are willing to pay for government services. The price of government for Redmond has typically ranged between 5.0 and 5.5 percent, which is normal for local governments. Redmond's price of government has fallen from over 7 percent in 2007 to 5.1 percent in 2014.

Redmond's Price of Government
Price of Government

Redmond experienced a spike in revenues from the housing boom in 2007 and a large grant in 2009.

Bond rating. The City of Redmond has held a AAA bond rating - the highest possible - since 2008. Among other things, an excellent bond rating makes Redmond an attractive place for investors, allowing the City to issue bonds at lower interest rates than it otherwise could, saving taxpayer dollars. It is a signal of prudent stewardship of public resources.

Source: Finance and Information Services Department

Updated April 2015

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Jeff Churchill

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